Solara Minerals Targets High-Grade Gold at Wilgeena with Drilling Plans Underway

Wilgeena Emerges as Priority Gold Target

Solara Minerals (ASX:SLA) has flagged its Wilgeena project as a key focus after soil sampling revealed gold anomalism exceeding 39ppb, coupled with strong hydrothermal alteration in surface outcrops. This target lies within the Peak Hill Schist, a stratigraphic sequence hosting significant nearby deposits including Hermes South (114koz at 1.6g/t) and Peak Hill (481koz at 1.6g/t). The coherent gold geochemical signature and alteration corridor define a compelling exploration target that had seen little follow-up since historic air core drilling reported intercepts such as 5m at 1.03g/t Au.

Follow-up air core drilling is planned to test these anomalies, particularly near the Peak Hill Schist/Karalundi contact where historic drilling was sparse. Heritage and permitting processes are underway to facilitate this next phase. The company views Wilgeena as a high priority within its Bryah Basin portfolio, reflecting the project's potential to host significant gold mineralisation.

Degrussa West Drilling Highlights Copper-Nickel Anomalies

At the Degrussa West project, located 17km west of Sandfire Resources’ Degrussa Copper-Gold Mine, Solara completed five reverse circulation holes totaling 1,032m in 2025. One hole, SDWRC004, intersected a strongly carbonate-altered mafic intrusive near a deep geophysical anomaly, returning anomalous copper (>150ppm) and nickel (>500ppm) values. This target is considered prospective for further testing with a planned diamond tail to deepen the hole.

Other holes drilled westward intersected anomalous gold and copper within the Naracoota volcanics but did not warrant immediate follow-up. The company intends to resume drilling at Degrussa West after prioritising Wilgeena targets, maintaining a disciplined approach to testing its portfolio.

Expanding Tenement Portfolio and Regional Reconnaissance

Solara secured two additional tenements, Kelly West (E52/4617) and Wandery (E52/4581), through a ballot process. Both lie along east-west trending regional faults on the western margins of the Padbury and Bryah basins, areas prospective for gold and copper mineralisation. These tenements remain pending formal grant.

Meanwhile, reconnaissance activities are progressing at other portfolio projects including Myrnas Hill, Bow River, and Mikhaburra. Myrnas Hill, granted in mid-2025 in the Pilbara, has historical rock chip samples with high copper and gold grades. Solara has conducted site visits and sampling, with results pending interpretation.

Financial Position Supports Ongoing Exploration

The company reported exploration and evaluation expenditure of $116,000 for the quarter ended 30 June 2026, with no mining production activities. Payments of $70,000 to related parties relate to directors’ fees. Cash and cash equivalents stood at $2.034 million, providing an estimated 7.67 quarters of funding based on current expenditure levels.

This financial runway offers Solara flexibility to advance its exploration programs, including planned drilling at Wilgeena and ongoing evaluation of acquisition opportunities aligned with its strategic objectives.